Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1266 Ocean Breeze Drive Flower Mound, TX 75028

3 Beds 3 Baths 2,765 sqft Built 2020

INVESTimate

$510,000

List Price

$2,620

$2,370 - $2,870

Rent Est.

$544,833  ( +6.83%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 26, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $184.45
  • 2 Days on Market
  • MLS # : 14418216
  • Updated Date : 08/25/2020 at 22:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,765 sqft
  • Baths : 3 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

This gorgeous property is located on a meticulously landscaped lot in the sought-after Villas of Southgate. The two-story floor plan boasts 2765 square feet of living including three bedrooms, three full bathrooms, a spacious living area, a culinary-inspired kitchen, a 2nd level game room, utility area and an oversized two-car garage. Quality abounds throughout with a stately stone and brick façade, rich hardwoods, fresh paint, plantation shutters, lovely granite, Radiant Barrier and a plethora of storage. The luxurious master suite features a vaulted ceiling, a wall of windows and a luxurious bathroom. Relax on the extended flagstone covered backyard patio complete with a built-in grill and outdoor television.

SEE MORE

MARKET HIGHLIGHTS

  • . Dallas has 7th largest concentration of high-tech jobs in the U.S. (Dallas Chamber)
  • # 1 in the country for job growth in 2017 (2.6% growth, 91,700 new jobs) (US Census, Forbes, 2017)
  • Dallas metro's economy is worth $579 billion in Gross Metro Product and projected to grow to $613 billion in 2019 (USMayors.org, 2018)
  • Home to 20 Fortune 500 headquarters, 39 Fortune 1000 headquarters and 12 of Forbes' top private companies (Fortune)
  • Dallas metro contributes to 31.9%% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Dallas metro has 67.1% labor force participation rate higher than the national rate 62.8% (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $123k402k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 75028

ZipNIR Market*CityMarket2010Year20002019 Q212001300140015001600170018001900200021002200230024002500Rent in $11262573

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

 
Sorry, we do not have sufficient school data for this neighborhood.
 

$459,000$561,000$510,000

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

PROJECTED ANNUAL CASH FLOW

11530-$12k-$10k-$8.0k-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M$1.4M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,882
Property Tax -$1,033
Property Insurance -$187
HOA -$58
Property Management Fees -$99
CASH FLOW
-$638

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 10% of earned rent to cover both maintenance and periods of vacancy.

$510,000

PROJECTED PRICE

$2,620

PROJECTED RENT

0.51%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.94%
Appreciation Year (1-5) 6.83%
Maintenance Year (1-5) 3.00%
Vacancy 6.93%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$137,150

INVESTMENT

$137,150

Down Payment
$127,500
Rehab Estimate
$2,000
Closing Costs
$7,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 70% down payment or higher enables the proceeds from the asset to cover all costs.

$1,882

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $127,500
Loan Amount $382,500
See What Happens When You Reinvest Cash Flow

0.25

YEARS SAVED

$223

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,620

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,668

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5003$2,5004$2,6205$3,150
$3,150
RENT COMPS ANALYSIS
  • 1266 Ocean Breeze Drive Flower Mound, TX 4
    • 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.95
    •  
  • 3300 Cottrell Drive Flower Mound, TX 1
    • 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,415 Sqft ∙ Built 2001
    LEASED 12/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.99
    •  
  • 713 Inglewood Drive Flower Mound, TX 2
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2002
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.96
    •  
  • 2820 Stanford Drive Flower Mound, TX 3
    • 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,819 Sqft ∙ Built 2000
    LEASED 07/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 4421 Villa Drive Flower Mound, TX 5
    • 4 beds 4 baths ∙ 3,074 Sqft ∙ Built 2015 4 beds 4 baths ∙ 3,074 Sqft ∙ Built 2015
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Chad Collins
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
North Texas Real Estate Information Services ( NTREIS)
MLS #: 14418216
Last Updated: 08/25/2020
BESbswy